Supervalu 4Q sales down by 2.9% to $4 billion

MINNEAPOLIS - Supervalu on Tuesday reported fourth quarter fiscal 2016 consolidated net sales of $4 billion, representing a decline of 2.9% as compared to the year-ago quarter. 

 

"I am thrilled to be a part of Supervalu and impressed with the people, assets and infrastructure that are in place within this great company,” stated Mark Gross, president and CEO Supervalu. “Although fourth quarter sales were softer than we had forecast, I am optimistic about our future prospects and pleased at our ability to manage adjusted EBITDA to finish in-line with our expectations. We have a lot of positives to build on as we move forward.”

 

Total net sales within Supervalu's wholesale segment decreased 4.8%, excluding the additional week in fiscal 2015. Save-A-Lot network identical store sales were negative 2.2%. Identical store sales for corporate stores within the Save-A-Lot network were negative 1.3%. 

 

Fourth quarter Retail net sales were $1.1 billion. The net sales decrease of 2.6% when excluding the additional week in fiscal 2015 reflects negative identical store sales of 3.9%, partially offset by sales from new stores.